Peter St Onge Podcast Ep 120 Weekly Roundup: Jobs are Booming -- and They're Real
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May 12, 2025 Discover the booming job market and its shift from government to private sector growth, especially in manufacturing. Dive into the rise of the Populist Reform Party in Britain and its implications for traditional politics. Explore the complexities of proposed government budget cuts and the challenges of reforming entitlement programs. Lastly, unpack the emotional struggles faced by young Americans, with alarming statistics showing that many feel financially insecure and are delaying major life milestones.
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Real Private Sector Job Growth
- April job growth during the trade war hit 177,000, surpassing expectations and driven entirely by private sector jobs.
- Government jobs declined, marking a shift from job growth under Joe Biden, which was mostly government or welfare-related.
Investment Fuels Job Shift
- Investment surged at a 22% annual pace, fueled by billions inside Trump's tariff protective measures.
- This reindustrialization is quickly flipping jobs from foreign-born to native-born workers.
Elon Musk's Doge Strategy
- Elon Musk is stepping back from Doge but declares it a "way of life," continuing to make it permanent for transparency.
- Congressional resistance limits Doge's effectiveness, with many GOP members resisting spending cuts.